Posts Tagged ‘online business’

Australians have spent $13.9 billion online in the past year, so that means if you’re a small or medium business owner or you have an idea that you think could fly online, now is the time to do it.

But don’t go in blindly, use these tips from the Sydney Morning Herald to help you.

Photo credit; SEOPlanter on Flickr

1. Look beyond eBay – Many online businesses start off on eBay because the auction site makes it easy to get your toes wet in the online marketplace. But if you’ve found that you have an aptitude for it, don’t just stay stagnant with eBay, push your products out into more places to try and reach as many potential customers as possible.

The best way to do this is by using multiple channels. You can get e-commerce management software to help you utilise a comprehensive range of channels, from Amazon, Trade Me and Facebook to comparison shopping engines like Shopbot.

2. Inventory management -If you are thinking about selling across multiple channels, you do need to maintain careful management of orders and inventory levels so that products are distributed on each channel effectively.

3. Information is king – You should spend the time and effort to publish as much information about your products or services as possible. Smaller retailers often struggle to do this. However, the more information you have and put forward, the easier it is for shoppers to find your product on Google, comparison shopping sites and eBay.

4.If in doubt, get advice - There are several options that retailers can take up to kick-start or grow their online business. Web agencies or independent developers can help retailers get up and running online; some also specialise in different vertical industries.

5. Invest in your own website – For more seasoned eBay sellers, it’s worth considering investing in your own webstore, which lets you ‘take back control’ of the customer experience and control your branding. You will also own the customer data and thus be able to harvest these customer details for marketing purposes.

Founded in 2009 by former Google employees Jodie Fox, Michael Fox and Mike Knapp, Shoes of Prey allows people to design their own women’s shoes using a virtual 3D designer that lets them pick style, shape, height and materials. The shoes are then custom made and shipped anywhere in the world within a few weeks.

The Sydney-based company reportedly received $3 million in funding last year.